Automotive Updates - 25th November 2014

• Ashok Leyland, the second largest truck and bus maker in India, has sold its 32 percent stake in one of its subsidiary companies, Hinduja Tech Ltd (HTL). In a filling to the Bombay Stock Exchange, the company said HTL (formerly known as Defiance Technologies) and a wholly owned unlisted subsidiary of Ashok Leyland, has now become a subsidiary company. To unlock value, HTL has roped in a strategic investor to subscribe to the equity share capital of the company. Consequent to the allotment of equity shares to the strategic investor, the holding of Ashok Leyland now stands at 68 percent. (Autocarpro.in)

• Auto component maker Amtek Auto is close to acquiring three foreign companies that have a combined annual turnover of over Rs 2,000 crore, according to people close to the development. Delhi-based Amtek Auto, the flagship of the $2.7-billionAmtek Group, will make the acquisition through a wholly-owned Singapore subsidiary, these people said.Two of these companies are based out ofGermany while the third is headquartered in Southeast Asia. (ETauto.com)

• The new generation 2015 Mercedes-Benz C Class was launched today in India at a price of INR 40.9 lakhs, ex-Showroom, New Delhi. As stated earlier, for now, the C Class will be available in India only with a petrol engine, and the car is imported as a CBU (Completely Built-up Unit). Local assembly and launch of the diesel variant will take place next year.(indianautoblogs.com)

• BMW India has launched the 2015 M5 at Rs 1.35 crore (ex-showroom India). While we wait for the launch of the M3 and M4 that will happen in a couple of days, the company has started the power onslaught with the M5 sedan. The car will be brought through the CBU (Completely Built Unit) route and will be available across dealerships in India. (carwale.com)

• Japanese two-wheeler major Kawasaki has introduced its litre class adventure motorcycle, the Versys 1000, for the Indian market at Rs 12.9 lakh (ex-showroom Pune). This 2015 model was first revealed at the Intermot Motorcycle fair this year. The Kawasaki Versys 1000 will be placed against the Suzuki V-Strom and the Triumph Tiger 800XC.(motorids.com)

• Harman International (India), the premium audio, infotainment and enterprise automation group, has been awarded with this year’s Tata Motors Supplier of the Year award. The award, which recognises the contribution and commitment of its most valued partner and involves a rigorous selection process, was given away OEM’s Annual Supplier’s Conference 2014 held in Mumbai on November 12. (Autocarpro.in)

• Talking to ET Auto, Pawan Munjal, vice-chairman and managing director, Hero Motocorp, revealed that Sri Lanka and Africa are the fastest growing export markets for the company. He added that the Hero has seen large volumes in Sri Lanka in the recent times and Africa is catching up too.The two wheeler giant is expanding its global presence aggressively. The company is currently selling its products in 22 countries worldwide compared to just four markets a few years ago. The target for 2020 is to be present in 50 markets with significant manufacturing presence in several countries. (indianautoblogs.com)

• Buoyed by the excellent response for Zest compact sedan, Tata Motors is now aiming to launch a series of new products in the Indian car market in next 2 years. The company will launch the much awaited Bolt hatchback in the first quarter, 2015. Adding to it, Tata is also aiming to add AMT equipped Nano and more powerful Safari Storme facelift next year. The homegrown automaker is also aiming to enter into the growing sub-compact SUV segment. At the 2014 Delhi Motor Show, Tata Motors showcased the Nexon compact SUV concept, which received a positive response from visitors as well as critics. Sources suggest that the Nexon mini SUV would enter into production in early 2016, while the launch could take place by March, 2016. This crossover is said to offer a mix styling of coupe and crossover. Dimensionally, the compact SUV is 4m long, 1.73m wide and 1.6m tall, and it has a good wheelbase of 2.54m.(cartrade.com)

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